Its not so bad!
Its a fun way to get a joke out or information out there without picking a specific person to send it to. And while most my 1 on 1 conversations are done individually, Facebook is a good means of keeping in touch with each other.
Just a few minutes ago me and two friends made plans to cosplay as a Dugtrio for the upcoming Pokemon XY luanch event.
That being said, Facebook can be a HUGE time killer. That's not a good thing, to be honest...
If I had spent more time readings books or studying the world then I did on social networking sites, I would have been a better person-maybe.
In the end, moderation is all you really need. =p